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Improving on its 2003 net income by 40%, state-owned Hungarian Development Bank (MFB) said it had Ft 11.79 billion after-tax profit in 2004. The bank's interest rate income totaled Ft 42.24 billion, which marks substantial growth compared to 2003's Ft 38.48 billion. MFB's net assets stood at Ft 606.23 billion at the end of 2004, up 13.5% on the previous annual report. While the bank did not pay a dividend on 2003 profit, the management is proposing to pay a total of Ft 6 billion to shareholders this time.